Berjaya Group Shares-A Tsunami of Sellers

One look at the board and you would see Berjaya Group shares gravitating down in price every trading day. so what is happening?

Anyone care to tell?

Look at the doyen in the group-Sports Toto. In its history, it is always a range-bound share floating between RM4.50 to RM5.00. Now look at it. It is in the teens above RM4.00. Dividends paid is still okay but why it is looked at with so much disdain these days for it to break the RM4.50 mark?

BJ Land though priced at about the RM4.30 price level is a counter that is too tightly held or interest is just not there in spite of the share split and bonus. Is it because some of its so-called grand projects are not coming through.. The one of most concern is the project to shift the Selangor Turf Club facility from Sungai Besi to Salak Tinggi. That has gone down for sometime as the PR government is still looking at the plans. Until we receive a whisper on that, BJ Land has to seek other exciting games to play.

BJ Corp has seen the best of times when the Ascot Game licence was in the offing for sports betting. With the failure to secure that licence, prices spiral downwards. Then after off-loading BJ Retail, it has sunk below RM1.00. I think it may go down further at this rate if BJ Roosters gets listed. True it will be cash rich and could become the war-chest for Vincent to play his games in 2011. Or is the General elections around the corner?

BJ Retail, newly listed is facing a slew of sellers every day? I wonder who is selling. Is Vincent cashing out while Berjaya Sampo is picking it up for cheap, benefiting Vincent either way? Looks like it as a majority seller must be in the market. Until the bleeding stops, BJ Retail will be in this price stupor.

BJ Media is another poor thing. After giving dividend-in-specie to its shareholders with the sale of THE EDGE business paper, the price of this stock started going south from 65 sen. Today it is about 40 sen though it surprisingly showed new life picking up 6 sen in today's morning session.

BJ Asset is also suffering from the same malaise. From a sprightly move to the 70 sen level given the better returns on number forecast operations in Sarawak, the occupancy of Berjaya Times Square and sale of  some condominiums, it has succumbed to selling pressure and has moved back close to the 50 sen level. How sad!

So, Vincent-where is the beef?

Or are you cashing out just like Bob Kuok,Ananda, Francis and Kok Thay?